Personal Internet Banking

Bank of China (Australia) Limited ABN 28 110 077 622 AFSL No. 287322 Personal Internet Banking Terms and Conditions Issued 28 October 2016 Bank of China (Australia) Limited ABN 28 110 077 622 AFSL 287322 Australian Credit Licence no. 287322

These are the Terms and Conditions prepared by Bank of China (Australia) Limited and issued on 28 October 2016 for the Bank s Personal Internet Banking facility. The information in the Terms and Conditions is subject to change from time to time. The Bank will notify customers of the updated information as set out in this Terms and Conditions. Table of contents 1 ESTABLISHING PERSONAL INTERNET BANKING SERVICES... 1 2 SECURITY CODES... 1 3 FUNDS TRANSFERS... 2 4 BPAY PAYMENTS THROUGH THE BPAY SCHEME... 3 5 OTHER PERSONAL INTERNET BANKING SERVICES... 5 6 CUSTOMER'S SECURITY OBLIGATIONS... 6 7 CUSTOMER'S OTHER OBLIGATIONS... 6 8 VERIFICATION OF INSTRUCTIONS... 6 9 LIABILITY FOR UNAUTHORISED TRANSACTIONS... 7 10 LIABILITY FOR BPAY PAYMENTS MISTAKEN PAYMENTS, UNAUTHORISED TRANSACTIONS AND FRAUD... 7 11 SYSTEM FAILURE AND LINKED SITES... 8 12 BANK'S LIABILITY... 9 13 BREACHES AND TERMINATION... 9 14 INDEMNITY BY CUSTOMER... 9 15 COSTS, EXPENSES AND FEES... 9 16 STATEMENTS AND NOTICES... 9 17 GENERAL... 10 18 READING THESE TERMS... 11 SCHEDULE 1... 14 SCHEDULE 2... 17

Personal Internet Banking Terms and Conditions Unless otherwise specified, capitalised terms used in these terms and conditions (Terms and Conditions) have the meanings given in clause 18.1. These Terms and Conditions, the PDS, the Application Form (including the instructions for its completion), and any amendment to any of them, together constitute the Personal Internet Banking Services agreement (Agreement). We advise you to read these Terms and Conditions carefully. Please note that if you are an individual customer of the Bank, you will able to access the Personal Internet Banking Services via the Website or our Mobile App (after registering with the Bank), but there are certain restrictions as specified in the Terms and Conditions below. You can register with the Bank by visiting a Bank of China (Australia) Limited retail branch in Australia near you during normal business hours. 1 Establishing Personal Internet Banking Services 1.1 By signing the Application Form and each time you use the Personal Internet Banking Services, you: agree to these Terms and Conditions; and acknowledge that nothing in this Agreement affects the authorisation of any signatories authorised to operate your Accounts with the Bank by means of an access method that has been agreed to independently and outside the terms of this Agreement. 1.2 Before you can use the Personal Internet Banking Services you must: hold or open at least one savings, cheque, deposit or loan Account with the Bank; complete and submit an Application Form; be identified, as required by law (including under any anti-money laundering and counterterrorism financing laws); and personally collect your username, secure password and E-token from a branch of the Bank. 1.3 If you acquire the Personal Internet Banking Services, these services will apply to the Linked Accounts you hold with the Bank. 1.4 Some features or functions of the Personal Internet Banking Services described in these Terms and Conditions may not be available when you register with the Bank to use the Personal Internet Banking Services. The Bank may introduce those features or functions at a later date and may change the Personal Internet Banking Services (including the features, functions, appearance or availability of the Personal Internet Banking Services) from time to time in accordance with clause 17.1. 2 Security Codes 2.1 To access the Personal Internet Banking Services via our Website (eg on a desktop or mobile device), you must successfully: enter your username; enter your password; navigate the Captcha security system (which is designed to distinguish human users from computer programs used by hackers); and enter your E-token code. 2.2 To access the Personal Internet Banking Services via our Mobile App, you must successfully: enter your username; and enter your password. At your option, the username and password that you use for the Mobile App may be different to the username and password that you use for the Website. You do not need to use the E-token to access the Personal Internet Banking Services via the Mobile App, but you will need to use the E-token and enter your E-token code in order to complete some transactions using the Mobile App. 2.3 Your username: is an alpha-numeric code or letters of no less than 6 and no more than 20 digits; identifies you as the holder of an Account with the Bank; and is initially issued by the Bank, but must be changed by you as soon as possible following collection. 1

2.4 Your password: is an alpha-numeric code of no less than 8 and no more than 20 digits; verifies your identity to access the Personal Internet Banking Services; and is initially issued by the Bank, but must be changed by you as soon as possible following collection. 2.5 Your secure E-token code is, at any time, the six digit numeric security code displayed at that time on the E- token issued to you by the Bank. Should you misplace your E-token, you must apply to the Bank for a replacement E-token. 2.6 On any day once your username is entered, if the wrong password is entered 5 times, your username will be blocked and you will not be allowed to attempt a further login until the next day. 2.7 If at any time the wrong E-token code is entered 5 successive times, your access to the Personal Internet Banking Services will be blocked until you personally attend a branch of the Bank and apply to have your access unblocked. 2.8 The Captcha security system displays a series of distorted letters and symbols which must be retyped into the required field before access will be provided. 3 Funds Transfers 3.1 You may instruct the Bank to make a Funds Transfer ONLY: from a Linked Account; to a Permitted Destination Account; during (and to take effect during) Operating Hours; subject to the maximum daily transaction limits as listed in Schedule 1 Part B; subject to any applicable minimum transaction limits as set out in Schedule 1 Part B; and subject to any other maximum or minimum limits or other restrictions that the Bank may set from time to time on the Website. 3.2 If the Destination Account is denominated in a currency that is different to the currency of the Linked Account, your instruction to transfer funds must also include an instruction to the Bank to exchange funds from the currency of the Linked Account to the currency of the Destination Account. Your selection of the required payment currency for the Destination Account will be treated as such an instruction where the required payment currency differs from the currency of the Linked Account. 3.3 Subject to clause 3.6, a foreign currency exchange that is made by the Bank will be undertaken at the exchange rates applicable from time to time at the Bank for such an exchange of currencies. Indicative exchange rates used by the Bank are available by contacting staff at a branch of the Bank. Indicative exchange rates can also be viewed at the Personal Internet Banking Funds Transfer screens of the Website (except for foreign exchange Funds Transfers to third parties that hold accounts with the Bank). 3.4 For international Funds Transfers, if the name of the Destination Account is in English or Chinese pinyin: your instruction to transfer funds must only specify the Destination Account name in English or Chinese Pinyin. If your instruction specifies the Destination Account name in Chinese characters (or both English or Chinese Pinyin and Chinese characters), your Funds Transfer may not be processed. 3.5 If you do not comply with clause 3.2 or there is an error in your Funds Transfer instruction, the Funds Transfer will not be processed to your requested Destination Account and your funds will be held by the financial institution that maintains the Destination Account until further instructions are provided by you to it. You may then either instruct the financial institution that maintains the Destination Account: to not proceed with the Funds Transfer and to return your funds to the Linked Account from which they were initially drawn; or to proceed with the Funds Transfer, in which case you must personally attend a branch of the Bank, to provide authorisation for the other financial institution to take such corrective action as required, including exchanging the transferred funds into the currency of the Destination Account. It will be entirely at the discretion of the financial institution that maintains the Destination Account as to whether or not it will agree to proceed with the requested Funds Transfer. 3.6 Any foreign currency exchange undertaken after the funds leave the Bank in the circumstances outlined in clause 3.5 will be undertaken by and at the exchange rate specified by the financial institution that maintains the Destination Account. 3.7 You cannot cancel or amend a Funds Transfer instruction once it has been issued, whether or not it has been received into the Destination Account. As set out in clause 3.10, you should check the status of each Funds Transfer in order to confirm whether it has been accepted or rejected. 3.8 The Bank is not liable for any loss or damage arising from you not being aware that a transaction is rejected. 2

3.9 During Operating Hours, you can give a Funds Transfer instruction to take effect: as soon as possible following our receipt; or at a future time (ie. a Scheduled Payment). HOWEVER if any Scheduled Payment is scheduled for a day that is not a Business Day, it will take effect on the next Business Day (except where the Funds Transfer involves a foreign currency conversion. Please see pages 14 and 15 for more information). 3.10 Following the Bank's receipt of a Funds Transfer instruction, the Bank will display messages on the Personal Internet Banking Funds Transfer screens of the Website about the status of the requested transaction. A message about the status of a requested transaction will not be displayed before the Bank commences to review or process the Funds Transfer instruction. Where the Bank has processed, or commenced to process, a Funds Transfer instruction, the following message (where applicable) will be displayed on a screen linked to the "Internet Banking Transaction Enquiry" tab on the Personal Internet Banking screen of the Website, but the relevant message will be displayed only after the Bank has processed (or commenced to seek to process) the Funds Transfer instruction: "transaction successful" if the Bank has transferred the funds either: - to a Destination Account within the Bank; or - to another financial institution for credit to the Destination Account (but see also clause 3.4); or transaction failed if the Funds Transfer has failed. The reasons for the failed transaction will also be indicated: such as insufficient balance in your account; or "to be authorised by bank" if your Funds Transfer instruction is pending authorisation by the Bank for any reason; or "transaction status unknown" which indicates that the Funds Transfer instruction may have failed - (where this message appears, please check your account balance to see if it has changed as you may need to issue a new Funds Transfer instruction); or such other transaction status displays as the Bank chooses to display from time to time on the screen linked to the "Internet Banking Transaction Inquiry" tab. It is your responsibility to check the transaction status of an outstanding Funds Transfer request to determine and be aware of its current or changing status or outcome. Where a transaction status message indicates "transaction successful" your Linked Account will be debited when your instruction is first processed. However, the Destination Account will not receive funds until the required authorisations are received and finalised and then only after such further period as the Destination Bank requires to process the funds. 3.11 The Bank has no obligation to check account names against account numbers when transferring funds in accordance with your Funds Transfer instruction. Instead, it transfers funds based solely on the account number you give. You are responsible for any errors or inaccuracies in Funds Transfer instructions. Where reasonably practicable, the Bank will assist you to mitigate your loss. 3.12 Where the Bank makes an error in a Funds Transfer, it will do everything reasonably practicable to rectify the error and will compensate you for any loss directly and solely resulting from the error, but is not: otherwise liable to you; nor liable to the extent that the loss is contributed to by your act or omission. 3.13 The Bank is not responsible for failing to comply with any Funds Transfer instruction if: it is unclear or incomplete; it does not conform to the directions on the Website (for example as to a permitted Destination Bank); the amount required to be sent does not meet or exceeds any applicable transaction limit imposed by the Bank; the currency of the Linked Account is different to the currency of the Destination Account and you have not provided the Bank with a foreign exchange instruction: (see clause 3.2); it is given to the Bank, or is to take effect, outside Operating Hours; the Bank is not satisfied that the instruction has been provided by you; the Linked Account has insufficient funds or insufficient pre-agreed credit to carry out the Funds Transfer; the Linked Account has been frozen for any reason or there is a legal impediment to processing the Funds Transfer; the Destination Account cannot be identified; or 3

the Funds Transfer cannot be processed due to any other circumstances beyond the Bank's reasonable control, including communications with or any action by any other financial institution. 4 BPAY Payments through the BPAY Scheme 4.1 The Bank is a member of the BPAY Scheme and will tell you if it ceases to be a member of the BPAY Scheme. 4.2 You may instruct the Bank to make a BPAY Payment ONLY: while the Bank remains a member of the BPAY Scheme; from a Linked Account; in AUD; subject to the maximum daily transaction limits as listed in Schedule 1 Part B; and subject to any other maximum or minimum limits that the Bank may set from time to time on the Website. 4.3 When you tell the Bank to make a BPAY Payment, you must give the Bank the following information: the Linked Account from which the payment is to be made; the amount to be paid in AUD; the Biller's code; the customer reference number with the Biller (usually your account number with the Biller); and any other information that is required on the BPAY page of the Website. The Bank will then debit the Linked Account nominated by you with the amount of that BPAY Payment. 4.4 You acknowledge that the Bank is not obliged to effect a BPAY Payment if you do not give the Bank all of the above information or if any of the information you give the Bank is inaccurate or unclear. 4.5 The Bank will treat your instruction to make a BPAY Payment as valid if, when you give it to the Bank, you enter the correct unique pass-code generated by your E-token. 4.6 If the Bank is advised that your BPAY Payment cannot be processed by a Biller, the Bank will: advise you of this; re-credit your Account with the amount of the BPAY Payment; and take all reasonable steps to assist you in making the desired BPAY Payment as quickly as practicable. 4.7 The Bank will not accept an order to stop a BPAY Payment once you have instructed the Bank to make that BPAY Payment. 4.8 You should notify the Bank immediately if you become aware that you may have made a mistake (except when you make an underpayment - for those errors see clause 4.12 below) when instructing the Bank to make a BPAY Payment, or if you did not authorise a BPAY Payment that has been made from your Account. Clause 10 describes when and how the Bank will arrange for such a BPAY Payment (other than in relation to an underpayment) to be refunded to you. 4.9 Billers who participate in the BPAY Scheme have agreed that a BPAY Payment you make will be treated as received by the Biller to whom it is directed: on the date you instruct the Bank to make that BPAY Payment, if you instruct the Bank to make the BPAY Payment before 5.00pm (Sydney time) on Business Days; or on the next Business Day, if you instruct the Bank to make a BPAY Payment after 5.00pm (Sydney time) on Business Days. 4.10 A delay may occur in processing a BPAY Payment where: there is a public or bank holiday on the day after you instruct the Bank to make a BPAY Payment; you instruct the Bank to make a BPAY Payment either on a day which is not a Business Day, or after 5.00pm on a Business Day; another financial institution participating in the BPAY Scheme does not comply with its obligations under the BPAY Scheme; or a Biller fails to comply with its obligations under the BPAY Scheme. 4.11 While it may be typical that any delay in processing as mentioned in clause 4.10 above will not continue for more than one Business Day, any such delay may continue for a longer period. It is your responsibility to allow for sufficient time for the making of payments to the Biller. 4.12 You must be careful to ensure that you instruct the Bank the correct amount you wish to pay. If you instruct the Bank to make a BPAY Payment and you later discover that: 4

the amount you instructed the Bank to pay was less than the amount you needed to pay, you can make another BPAY Payment for the difference; or the amount you instructed the Bank to pay was more than the amount you needed to pay, you should contact the Biller directly in order to obtain a refund for the excess. Otherwise, clause 10.3 describes when and how the Bank will arrange for such a BPAY Payment to be refunded to you as a mistaken payment. 4.13 You must comply with the terms and conditions governing the underlying Linked Account to which you request the Bank to debit a BPAY Payment, to the extent those Account terms are not inconsistent with or expressly overridden by these Terms and Conditions. 4.14 If there is any inconsistency between the terms and conditions applying to the Account and these Terms and Conditions in relation to BPAY Payments, these Terms and Conditions will apply to the extent of that inconsistency. 4.15 The Bank may suspend your right to make payments using the BPAY Scheme at any time without liability for any loss or damage you may suffer. The Bank will not be required to give you prior notice of this if it suspects fraudulent activity on your Account with the Bank. The Bank will not process any payments from your Account with the Bank via the BPAY Scheme during the time your right to make BPAY Payments is suspended. 5 Other Personal Internet Banking Services 5.1 Account Inquiry You may view the current balances of the Linked Accounts you maintain with the Bank and you may search transaction records on those Accounts (depending on the type of the transaction and on the type of the Linked Account). You can also access E-Statement after registering. However, please note that if you are accessing the Personal Internet Banking Services via our Mobile App, then you may not view E- Statement on your mobile devices. You may also check the status of any Funds Transfer using the Internet Banking Transaction Inquiry function. 5.2 Term Deposit Where your Linked Accounts include a term deposit Account, using the Personal Internet Banking Services, you may: open one or more new term deposits by Funds Transfer from a Linked Account you hold with the Bank, subject to applicable restrictions from time to time specified by the Bank, if any*; view details of term deposit Accounts you hold with the Bank; and withdraw funds from a term deposit Account by a transfer to a Linked Account you hold with the Bank. (* Any new term deposit will be provided on the terms as set out in the relevant term deposit PDS that is provided to you at that time.) 5.3 Stop Cheque Using the Personal Internet Banking Services, you may issue a stop cheque instruction to the Bank in respect of any cheque drawn on a Linked Account you hold with the Bank (which allows the drawing of cheques), where the cheque has been issued but not yet presented to the Bank. This service is otherwise subject to the terms and conditions of the relevant Linked Account. 5.4 Credit Cards Where you have a Linked Account that is a Bank of China Great Wall International Credit Card account, you may use the Personal Internet Banking Services: to check which of your Credit Card accounts are Linked Accounts; to set up a selected payment method that is permitted by the Bank in relation to amounts owing by you under your Credit Card account that is a Linked Account; to review any statements of account that have been issued in the previous four months under your Credit Card account that is a Linked Account; to review your repayment history over any period under your Credit Card account that is a Linked Account. 5.5 Debit Cards Where you have a Bank of China Great Wall International Debit Card, or are responsible for a Bank of China Great Wall International Debit Card, that is linked to a Linked Account, you may use the Personal Internet Banking Services (please note that if you are accessing the Personal Internet Banking Services via our Mobile App, then access to your debit cards may not be available when you register with the Bank to use the Personal Internet Banking Services and the Bank may make that access available to you from a date to be determined by the Bank): to check the card number of each Debit Card that is linked to your Linked Account; to reduce a transaction limit applicable to a Debit Card that is linked to your Linked Account; to report the loss of a Debit Card that is linked to your Linked Account or to cancel such a report; 5

to review the transaction history over the previous year of the Linked Account in relation to transactions that were conducted by the use of each Debit Card that is linked to the Linked Account. You may also use the Personal Internet Banking Services to instruct the Bank to make an Account that you hold with the Bank, and that is linked to a Debit Card, an Account that is a Linked Account. 5.6 Global Account Management Service The Global Account Management Service allows you to obtain, through the Personal Internet Banking Services, information concerning your Bank of China (Australia) Limited Accounts and any relevant cross border Accounts held by you with other Bank of China Group members which are registered under Global Account Management Service including the account balance and transaction details and such other information as may from time to time be available under the Global Account Management Service (please note that if you are accessing the Personal Internet Banking Services via our Mobile App, then Global Account Management Service available to you is restricted to account inquiry function only, and you will not be able to apply for, activate, or cancel Global Account Management Service via our Mobile App); You must be an existing customer of the Personal Internet Banking Services when you apply for and/or use the Global Account Management Service; You must also be an existing customer of the personal online banking service provided by the member of the Bank of China Group with which the cross border Account is opened when you use the Global Account Management Service; All Bank of China (Australia) Limited Accounts and cross border Accounts to be registered under the Global Account Management Service (i) must be in your name and solely and beneficially owned by you and (ii) have also been registered under the Personal Internet Banking Services or online banking service provided by the relevant member of the Bank of China Group (as the case may be). 5.7 Loan Management Service The Loan Management Service (which is not available through our Mobile App) allows you to access the following functions through the Personal Internet Banking Services relating to your Bank of China (Australia) Limited home loan: loan Account details enquiry; repayment transactions enquiry; early repayment (please note that the terms and conditions of your loan agreement will apply to any early repayments you may make. Please also note that break costs may apply as set out in your loan agreement). The Bank may suspend any of these Personal Internet Banking Services at any time and without prior notice to you. 6 Customer's Security Obligations 6.1 You are responsible for ensuring that you have: all of the computer, mobile device, such as a smart phone or a tablet, and communications equipment necessary to enable you to have access to the Internet; and adequate protection systems, including anti-virus measures, to protect the security of your username and password and your use of the Personal Internet Banking Services and to prevent any unauthorised access to your computers, mobile device, such as a smart phone or a tablet, or their content and any communications equipment used for the purposes of the Personal Internet Banking Services. 6.2 You must select a username and password that: has no obvious connection to your name, address, birth date or driver's licence number; is not an obvious sequence of letters or numbers such as 7654321, or aaaaaaa. 6.3 You must: keep your username, password and E-token secure; change your username on receipt - once changed, the username cannot be further altered; and change your password on receipt - and subsequently and regularly (at least once every 3 months). 6.4 You must ensure that your username and password are not: stored in any manner which indicates that they are Security Codes; used after the Bank has notified you that your right to use them or the Personal Internet Banking Services has been revoked; 6

recorded unless this is essential to aid recollection and is done in a manner that is reasonably disguised, having regard to the Bank's standards from time to time for disguise of usernames and passwords as set out in Schedule 2; disclosed, reverse compiled, copied or in any way observed while being used; and accepted by any unauthorised person. 6.5 Loss of username, passwords or E-token: If you are aware of any breach of security in relation to your username, password or E-token security (including if you lose your E-token) you must notify the Bank immediately and comply with all instructions from the Bank. The notification of the security breach or loss will take effect immediately after it is received by the Bank. Subject to clauses 9.3, 9.4 and 9.5, any losses that may occur prior to the notification taking effect will be borne by you. Please refer to Schedule 2 for contact details. 6.6 This clause 6 indicates how you should protect the security of your methods of access to the Personal Internet Banking Services. Your liability for any losses resulting from unauthorised transactions will be determined under clause 9 and clause 10. 7 Customer's Other Obligations 7.1 When using the Personal Internet Banking Services, you must: act in accordance with these Terms and Conditions; and comply with all terms of use of the Website appearing on the Website. 7.2 You must comply with all directions given by the Bank from time to time in relation to the use of the Personal Internet Banking Services. 7.3 You warrant the truth, accuracy and completeness of all information given to the Bank by you: in any Application Form; or when using the Personal Internet Banking Services; or otherwise in respect of any Linked Account, and you acknowledge and agree that, in agreeing to provide the Personal Internet Banking Services to you, the Bank is relying on the truth, accuracy and completeness of all information given by you. 7.4 You must notify the Bank immediately if there are any changes to the information in an Application Form. 8 Verification Of Instructions 8.1 When the Bank receives a request or instruction for a Personal Internet Banking Service, the Bank will take the following steps to verify that the person who is making the request, or giving the instruction, is you. The Bank will verify that it is dealing with you by reference to the entry of the correct username and password, the successful navigation of the Captcha System and, for Funds Transfers, BPAY Payments and stop cheque instructions, the entry of the correct E-token code. 8.2 Once the Bank has verified that the person providing a request or instruction for a Personal Internet Banking Service is you, in accordance with clause 8.1, the request or instruction will constitute a valid direction from you to the Bank and you must accept all responsibility for the accuracy of information contained in the request or instruction. 8.3 You acknowledge that the Bank is not obliged to refer to anything other than your username and password, and, if applicable, the E-token code when verifying that the instructions are from you. 9 Liability For Unauthorised Transactions 9.1 An unauthorised transaction is an electronic funds transfer transaction from an Account with the Bank that is a Funds Transfer or a BPAY Payment that has taken place without your knowledge, consent or authorisation. The following clauses are relevant to unauthorised transactions. 9.2 Subject to clause 9.3, you will be liable for any unauthorised transactions if: the loss was due to fraud on your part; the loss occurred before you notified the Bank of a breach of your Security Codes; there was unreasonable delay in your notifying the Bank after becoming aware of a security breach of your username, password or E-token (including the loss or theft of your E-token); the loss was due to disclosure of your username, password or E-token; you acted with extreme carelessness when safeguarding your username, password or E-token; or you selected a code which the Bank specifically warned you against (e.g. date of birth, 1111 etc): see clause 6.2. 7

9.3 Even if you are liable as a result of any of the above examples, you will not be liable for: the portion of the losses incurred in one day which exceeds your applicable daily transaction limit; the portion of the losses incurred in a period which exceeds any other periodic transaction limit applicable to that period; the portion of the total losses incurred on any Account which exceeds the balance of that Account; and losses incurred from unauthorised transactions on any Accounts which the Bank did not agree could be accessed using the access method. 9.4 If it cannot be clearly proved that you contributed towards the loss caused by an unauthorised transaction, and where a Security Code was required to perform the unauthorised transaction, you will be liable for the lesser of: $150; the balance of those Account(s) with the Bank from which funds were transferred in the unauthorised transactions and which the Bank had agreed with you may be accessed using the access method; or the actual loss at the time you notify the Bank (where relevant) that the Security Codes have been breached (excluding that portion of any money lost on any one day that is more than the applicable daily transaction or other periodic transaction limit). 9.5 The Bank will be liable for any unauthorised transactions if: it is clear that you did not contribute to the losses; the loss occurred due to the fraudulent or negligent conduct of the Bank's employees; the loss resulted from any component of the access method being forged, faulty, expired or cancelled; the loss occurred prior to you receiving your username or password; the loss was caused by the same transaction being incorrectly debited more than once to the same Account; or the losses occurred after you had already notified the Bank that your username or password security had been breached. 10 Liability for BPAY Payments mistaken payments, unauthorised transactions and fraud 10.1 If under clause 9, you are liable for an unauthorised or fraudulent BPAY Payment, then your liability is limited to the lesser of: the amount of that unauthorised or fraudulent BPAY Payment; and the limit (if any) of your liability set out in clause 9 above. In the latter case, the Bank will be liable to you for the difference between the amount for which you are liable and the amount of the unauthorised or fraudulent BPAY Payment. 10.2 The Bank will attempt to make sure that your BPAY Payments are processed promptly by the participants in the BPAY Scheme, including those Billers to whom your BPAY Payments are to be made. You must promptly tell the Bank if: you become aware of any delays or mistakes in processing your BPAY Payments; if you did not authorise a BPAY Payment that has been made from your Account with the Bank; or if you think that you have been fraudulently induced to make a BPAY Payment. The Bank will attempt to rectify any such matters in relation to your BPAY Payments in the way as set out in this clause 10. However, except as set out in clauses 9, 10 and 12, the Bank will not be liable for any loss or damage you suffer as a result of using the BPAY Scheme. 10.3 Mistaken payments: If a BPAY Payment is made to a person, or for an amount, which is not in accordance with your instructions (if any), and your Account with the Bank was debited for the amount of that payment, the Bank will credit that amount to your Account with the Bank. However, if you were responsible for the mistake resulting in that payment and the Bank cannot recover the amount of that payment from the person who received it within 20 Business Days of the Bank attempting to do so, you must pay the Bank that amount. 10.4 Unauthorised transactions: If a BPAY Payment is made in accordance with a payment direction, which appeared to the Bank to be from you or on your behalf but for which you did not give authority, the Bank will credit your Account with the Bank with the amount of that unauthorised payment. However, you must pay the Bank the amount of that unauthorised payment if: 8

the Bank cannot recover within 20 Business Days of the Bank attempting to do so that amount from the person who received it; and the payment was made as a result of a payment direction which did comply with the Bank's prescribed security procedures for such payment directions and entry was made into the system with the correct E-token code. 10.5 Fraudulent payments: If a BPAY Payment is induced by the fraud of a person involved in the BPAY Scheme, then that person should refund you the amount of the fraud-induced payment. However, if that person does not refund you the amount of the fraud-induced payment, you must bear the loss unless some other person involved in the BPAY Scheme knew of the fraud or would have detected it with reasonable diligence, in which case that other person must refund you the amount of the fraud-induced payment. 10.6 If you tell the Bank that a BPAY Payment made from your Account with the Bank is unauthorised, you must first give the Bank your written consent addressed to the Biller who received that BPAY Payment, consenting to us obtaining from the Biller information about your Account with the Bank with that Biller or the BPAY Payment, including your customer reference number and such information the Bank reasonably require to investigate the BPAY Payment. If you do not give the Bank that consent, the Biller may not be permitted under law to disclose to the Bank the information the Bank needs to investigate or rectify that BPAY Payment. 11 System Failure And Linked Sites 11.1 You may experience interruptions and difficulties accessing the Website and its content from time to time. The Bank does not represent or guarantee that the Website and the content will be free from errors, viruses or interruptions. It may be affected by outages, faults or delays. These may be caused by technical difficulties, your or a third party's software, equipment or systems, traffic, infrastructure failures or actions taken by third parties. The Bank may also alter, interrupt or suspend or deny your access to all or part of the Website or content at any time for any reason the Bank thinks fit, without any prior notice. 11.2 If the Bank's Website or any internet system relied upon by the Bank experiences any breakdown or interruption, corruption of data or any other form of system failure so that you cannot use the Personal Internet Banking Services effectively then, on request from you, the Bank will do all things reasonably practicable to reinstate the Personal Internet Banking Services as soon as practicable. 11.3 The Website may contain links or references to other websites. The Bank is not responsible for the availability or content of any linked website and any link or reference is for your convenience and is not an endorsement by the Bank of the other website, its contents or its owner/sponsor. 12 Bank's Liability 12.1 The Bank s liability in relation to your use of the Personal Internet Banking Services via the Website is limited to the conditions and warranties imposed on the Bank by laws such as the Competition and Consumer Act 2010 which may imply warranties into a contract to protect you, such as a promise that the services are fit for their intended purposes. These laws may allow the Bank to exclude liability if you acquire services as part of a business. To the extent permitted by law, we exclude liability under implied statutory conditions and warranties, or limit our liability under such warranties and conditions to supplying the services again or paying the cost of that resupply. This clause does not otherwise limit the Bank s liability stated in these Terms and Conditions where failures of the Bank s equipment cause you loss, and does not limit your right to raise a dispute. 13 Breaches and Termination 13.1 The Bank may terminate this Agreement immediately by notice in writing to you if you are in breach of your obligations under this Agreement. 13.2 The Bank may terminate this Agreement at any time by 30 days notice in writing to you. 13.3 You may terminate this Agreement by giving the Bank a completed Personal Internet Banking Application Form indicating cancellation of the Personal Internet Banking Services, at least 30 days prior to termination. 14 Indemnity by Customer 14.1 Subject to clauses 9 and 10, you indemnify the Bank and must pay the Bank on demand the amount of any losses, costs and expenses that the Bank suffers or incurs as a result of the Bank complying with an instruction from you. 9

14.2 The indemnity in this Agreement is a continuing indemnity and is not affected by anything which may otherwise affect it at law or in equity or by statute or otherwise. 15 Costs, Expenses And Fees 15.1 You must pay or, to the extent already paid by the Bank, reimburse the Bank on demand for all: costs, charges and expenses incurred by the Bank, its agents, contractors and employees in connection with the exercise, enforcement or protection (or any attempt to exercise, enforce or protect) any of its rights under this Agreement, including, in each case, legal costs and expenses on a solicitor and own client basis or a full indemnity basis, whichever is the higher; and taxes, registration and other fees, and account charges by the Bank, in each case, including fines and penalties for late payment, arising directly or indirectly in connection with the execution, delivery or compliance with this Agreement, any payment, receipt or supply in relation to them and any transactions contemplated by it. 15.2 The Bank may charge you fees in respect of the Personal Internet Banking Services (that is, in addition to any fees payable under the terms of the Accounts that may be accessed with the Personal Internet Banking Services). The Bank may change or add to these fees from time to time in its absolute discretion. A list of current fees is included in the Personal Internet Banking Combined Financial Services Guide and Product Disclosure Statement. Information on our current fees and charges is also available on request. The Bank will give you notice of any change to a fee or charge, and of any addition to the fees and changes payable under this Agreement, in accordance with clause 17. 16 Statements And Notices 16.1 Statements Transactions conducted by using the Personal Internet Banking Services will be recorded on the statements of your Accounts with the Bank which are provided to you in accordance with the respective terms and conditions of those Account with the Bank. 16.2 General notices Subject to clause 16.3, any notice, demand, consent or other communication given or made under this Agreement must be: in writing and clearly readable; signed by the party giving or making it (or signed on that party's behalf by its authorised officer); and left at the address of the recipient, or sent by prepaid ordinary post to that address or sent to the facsimile number of the recipient. 16.3 Notification of breach of Customer's Security Codes You may give notice to the Bank of any breach of your username or password by telephone. Any notification by you pursuant to this clause will take effect immediately. 16.4 Changes of details Details may be changed as follows: You may change any information given in an Application Form only by completing and submitting a new Application Form, indicating a change of details. The Bank may change its details for the purpose of service of notices, by giving notice of that change to you in accordance with the provisions of clause 16.2. If you change your address and do not properly notify the Bank, the Bank can give notice to you in writing to the last address for you properly notified to the Bank under these Terms and Conditions. 16.5 Receipt Proof of posting or delivery of a letter or dispatch of a facsimile is proof of receipt: in the case of a document sent by prepaid ordinary post: on the second Business Day after the date of posting; in the case of a document left at the address: on the day and at the time at which delivery was made; and 10

in the case of a facsimile: on the day and at the time at which the transmitting facsimile machine indicates that the facsimile was sent in its entirety to the facsimile number of the recipient for the purposes of this clause. 17 General 17.1 Notification of changes (a) The Bank may change these Terms and Conditions at any time (including introducing a fee or charge) in accordance with this clause 17.1. (b) If: (i) the Bank makes a change to the Terms and Conditions; and (ii) under applicable law, the change is of a kind that requires the Bank to give you notice of the change within a required timeframe, the Bank will give you notice of the change within the timeframe in accordance with the applicable law. In all other cases, the Bank will give you notice of the change in accordance with paragraph (c). (c) You agree that the Bank may give you notice of any changes to these Terms and Conditions by: (i) displaying a notice on the Website; or (ii) national or local media advertisement; or (iii) written notice to you (such as post or email), no later than the day on which the change takes effect. 17.2 Records You will be able to access records of Funds Transfers for a period of 12 months from the date of the transfer. 17.3 Rights The Bank's rights in this Agreement are cumulative with and do not exclude any other right. The Bank may exercise or not exercise a right (including the making or not making of any determination) in its absolute discretion and the Bank is not required to give any reasons for its decision. 17.4 Waivers, variations and consents Any waiver or consent by the Bank is effective only if it is in writing signed by or on behalf of the Bank and then only to the extent expressly stated in writing and in the specific instance and for the specific purpose for which it is given. No failure on the part of the Bank to exercise, or delay on its part in exercising, any of its rights operates as a waiver of them. No provision of this Agreement or right conferred by it can be varied except in writing signed by the parties. 17.5 Invalidity If any part of this Agreement is for any reason unenforceable that part is to be read down to the extent necessary to preserve its operation and if it cannot be read down it is to be severed. 17.6 Assigning rights The Bank may without your consent assign to any person some or all of its rights under this Agreement. You must not assign any of your rights under this Agreement without the Bank's prior written consent. 17.7 Privacy and Confidentiality The Bank has, in addition to its duties under the Privacy Act 1988, a general duty of confidentiality towards you, except in the following circumstances: where disclosure is compelled by law; or where there is a duty to the public to disclose; or where the Bank s interests require disclosure; or where disclosure is made with your express or implied consent. You irrevocably consent and agree to the Bank providing information concerning you or this Agreement: to any person who is an assignee or potential assignee or a beneficiary or potential beneficiary of, or a participant in or potential participant in, the Bank's rights under this Agreement; 11

in relation to making BPAY Payments, to Billers nominated by you and if necessary, the entity operating the BPAY Scheme (BPAY Pty Ltd) or any other participant in the BPAY Scheme and any agent appointed by any of them from time to time, including Cardlink Services Limited, that provides the electronic systems needed to implement the BPAY Scheme; if required or permitted by law; if the information is publicly available; or if the Bank is under a public duty to disclose the information. 17.8 Governing law and jurisdiction This Agreement is governed by the laws of New South Wales and the parties submit to the non-exclusive jurisdiction of its courts. 17.9 Dispute Resolution Process If you wish to make a complaint to the Bank, you can contact the Bank on 1800 095 566 (Australia) or +61 3 9670 6200 (overseas). The Bank will endeavour to address your complaint to your satisfaction. This is part of the Bank s effort to provide you with a higher quality of service and to help ensure our performance always meets your expectations. If your complaint is not resolved in this way, you can contact the Financial Ombudsman Service Limited telephone 1300 780 808 or visit their website at www.fos.org.au. This is an independent and impartial body which provides a free external dispute resolution procedure. 18 Reading These Terms 18.1 Meaning of words The following words have these meanings in this Agreement: Account means any account maintained with the Bank or any other financial institution. Application Form means the Bank's Personal Internet Banking application form. AUD means Australian Dollar. Bank, we or us means Bank of China (Australia) Limited ABN 28 110 077 622, AFSL 287322, of 39 41 York Street, Sydney NSW 2000. Bank of China Group means Bank of China and any of its branches and subsidiaries which provide banking services. Biller means any organisation that participates in the BPAY Scheme and has informed you that it will accept payments via the BPAY Scheme. BPAY or BPAY Scheme means the electronic payment scheme operated by BPAY Pty Ltd to effect payments to Billers. BPAY Payment means a payment you instruct the Bank to make on your behalf to a Biller through the BPAY Scheme. Business Day means a day, not being a Saturday, Sunday, or a Public Holiday on which banks and the Bank are open for business in Sydney. CNY, Yuan or Renminbi means the lawful currency of the People s Republic of China. Destination Account means, in respect of any Funds Transfer, the Account that is to be credited with the funds to be transferred. Referred to on the Website as the "to account". Destination Bank means a financial institution specified by us, from time to time, on our website (at www.bankofchina.com/au) as permitted by us to be a Destination Bank for Funds Transfers using the Personal Internet Banking Services and includes the Bank. 12

E-token is the security device that produces a unique pass-code, also known as a E-token code. Funds Transfer means a transfer of funds by electronic means between Accounts. Linked Account means an Account you hold with the Bank from time to time permitted by us on the Website to be a Linked Account for Funds Transfers and BPAY Payments you request using the Personal Internet Banking Services (and will include your savings Account and your cheque Account with the Bank). Mobile App means an app for compatible mobile devices such as smart phones and tablet devices that we make available to Bank customers. Operating Hours means in respect of any Funds Transfer or BPAY Payment, the operating hours for that transfer or payment as set out in Schedule 1 of these Terms and Conditions. PDS means a Product Disclosure Statement issued by the Bank and includes any supplementary Product Disclosure Statement. Permitted Currency means a currency specified by the Bank, from time to time, on the Website as a currency in which Funds Transfers can be made using the Personal Internet Banking Services. Permitted Destination Account means an Account with a Destination Bank to which Funds Transfers can be made using the Personal Internet Banking Services. Personal Internet Banking Services means the services available via the Website and as described in clauses 3, 4 and 5 of these Terms and Conditions as varied by the Bank from time to time. Scheduled Payment means a scheduled payment described in clause 3.8 of these Terms and Conditions. Security Code means any of the security codes specified in clause 2 of these Terms and Conditions, namely your password and your E-token code. USD means the lawful currency of the United States of America. Website means the Bank's official internet website, currently having domain address www.bankofchina.com/au as amended, updated or replaced from time to time, and where applicable, the relevant screen or interface on our website through which the Personal Internet Banking Services are provided. you means the person (or persons for joint accounts), sole trader or partnership named in the Application Form as the customer. Where the context permits, if there is more than one person named as the customer, references to you mean each person separately and every two or more persons jointly. 18.2 Interpretation In this Agreement, unless the contrary intention appears: (a) a reference to a Security Code means the then current Security Code, as updated from time to time; (b) a reference to this Agreement or any other document includes any variation or replacement of it (c) a reference to a statute or other law includes regulations and other instruments under it and any consolidations, amendments, re-enactments and replacements of it; (d) the singular includes the plural and vice versa; (e) a reference to one gender includes each other gender; (f) the word "person" includes a firm, corporation, body corporate, unincorporated association or governmental agency; 13